Global Restructuring Review Names Dechert Among Global Top 30 for Restructuring

 
June 27, 2018

Dechert LLP has been named by Global Restructuring Review among the global elite of law firms with leading restructuring and insolvency practices. Firms named to the publication’s ‘GRR 30’ list are assessed on the size and scope of their restructuring teams and on the value, volume and significance of the matters handled.

Dechert’s financial restructuring practice is well known for representing major parties in interest in the most significant restructuring matters around the world. In the past year, many of Dechert’s mandates have involved acting for ad hoc committees of bondholders and other creditors on restructurings of companies and banks in the emerging markets.

Dechert is currently representing the International Bondholder Committee in connection with the US$19 billion restructuring of Oi S.A., Brazil’s leading telecommunications service provider, in Latin America’s largest ever bankruptcy filing.

The firm also advises the administrators of Lehman Brothers Limited, the service company for the European group of Lehman Brothers, in the Waterfall III proceedings, which related to £10 billion worth of claims between various Lehman group companies in the UK. The claim was resolved consensually in 2017.

In Global Restructuring Review’s GRR Awards, Dechert was also named a finalist in the ‘Most Significant Insolvency-Related Litigation’ category for its work on the Oi matter.

The firm’s financial restructuring practice has recently been recognized for a number of achievements. This year, the restructuring of US$875 million of debt by Russia’s Far Eastern Shipping Company (FESCO) was named ‘Deal of the Year for Russia’ by CEE Legal Matters at its Deals of the Year Awards for 2018. Dechert represented an ad hoc committee of bondholders in the matter.

The year before, Dechert was honored when the cross-border restructuring of Brazilian engineering and construction company OAS, S.A. was named ‘Restructuring Deal of the Year’ by the International Financial Law Review in its IFLR Americas Awards 2017. Dechert worked with the client to develop a global strategy for major bondholders in the matter.

The same year, the Chapter 11 restructuring of Modular Space Corporation, in which the firm represented the ad hoc group of noteholders, was selected by Turnarounds & Workouts for its “Successful Restructurings of 2017” list and named ‘Industrials Deal of the Year’ for deals over US$100 million at The M&A Advisor’s Turnaround Awards.

Firms named to the GRR 30 were honored at the 2nd Annual GRR Awards ceremony on June 26 at the Banking Hall in London.

About Dechert

Dechert is a leading global law firm with 27 offices around the world. We advise on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.

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